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Flextronics International Ltd. (NASDAQ:FLEX)’s shares increased 4.58% to $10.04. Flextronics’ stock was upgraded at Needham on May 22. As previously reported, Needham upgraded Flextronics to Buy from Hold. The analyst upgraded shares based on improved mix, better margins, and earnings growth expectations. Price target is $12.
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Additionally, the company on May 7 announced that its Medical Group will provide design and manufacturing services to Ichor Medical Systems for the development of its next generation TriGrid DNA Delivery System, an electroporation device used to deliver DNA vaccines and treatments addressing a broad spectrum of disease indications. The TriGrid technology has recently been licensed by Pfizer for the intracellular delivery of their DNA-based cancer vaccines.
American Eagle Outfitters (NYSE:AEO)’s shares gained 1.60% to $10.77. The company on May 21 reported earnings of $0.02 per diluted share for the first quarter ended May 3, 2014, compared to adjusted earnings of $0.18 per diluted share for the comparable quarter last year. Total merchandise inventories at the end of the first quarter declined 3% to $329 million compared to $341 million last year. In the first quarter, capital expenditures totaled $72 million. For fiscal 2014, the company continues to expect capital expenditures of approximately $230 million.
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